Yum! Brands has entered into definitive agreements to sell Pizza Hut for $2.7 billion in total. The deal, announced Tuesday, June 16, 2026, separates the iconic pizza chain from the Louisville-based parent company and gives it new ownership tailored to its distinct global markets.
Under the agreements, LongRange Capital will acquire Pizza Hut operations outside of Mainland China for approximately $1.5 billion, with Yum! Brands eligible for an additional $75 million earn-out by 2030. Yum China Holdings will separately purchase Pizza Hut operations in Mainland China for about $1.2 billion. The transactions are expected to close in the third quarter of 2026, subject to regulatory approvals and other customary conditions.
The sale completes a strategic review of Pizza Hut that began in late 2025. Yum! Brands CEO Chris Turner said the move allows the company to focus more sharply on its stronger-performing KFC and Taco Bell brands while positioning Pizza Hut for future growth under owners with deep restaurant expertise. Yum! Brands will continue providing certain technology and transition services to support a smooth separation.
YUM! BRANDS $YUM AGREES TO SELL PIZZA HUT FOR $2.7 BILLION pic.twitter.com/hcgg9am4ZP
— Investing.com (@Investingcom) June 16, 2026
The company also announced an incremental $4 billion share repurchase authorization as part of its capital return strategy. Pizza Hut, founded in 1958, has been part of Yum! Brands since 1997 and maintains a significant operational presence through the Plano, Texas brand headquarters for global operations.
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